ITAT held that computer software is eligible for 60% depreciation and directed the AO only to verify its actual cost before computing the deduction.
ITAT Kolkata held that an assessment is invalid where the mandatory notice under Section 143(2) is not issued by the Assessing Officer having jurisdiction. The Tribunal quashed the assessment without examining the merits of the additions.
White Willow Vs ITO (ITAT Surat) The Income Tax Appellate Tribunal (ITAT), Surat allowed the assessee’s appeal against the order of the National Faceless Appeal Centre for Assessment Year 2014-15, which had upheld the addition of ₹1.50 crore under Section 68 on account of unsecured loans and the disallowance of interest expenditure of ₹7,18,581. The […]
ITAT deleted the TP adjustment, allowed 60% software depreciation, but upheld other disallowances, partly allowing the appeal.
ITAT held that stamp duty paid for lease registration was deductible as revenue expenditure in the year it was incurred.
The Tribunal upheld the set-off of eligible unit losses against other business profits by following binding judicial precedents.
The Tribunal allowed 60% depreciation and deleted TDS disallowance after distinguishing a copyrighted article from copyright.
ITAT held that subsidy recognised as income could be claimed as bad debt when it became unrecoverable, even if written off in the same year.
ITAT held that the AO could not change the valuation method adopted under Rule 11UA and deleted the addition under Section 56(2)(viib).
ITAT accepted the Section 158A declaration and directed the AO to apply the High Court’s final ruling to the relevant assessment year.
